Sunday, March 22

Blog

Beijing considering Honiara’s request for airport extension – Jeremiah Manele
World News

Beijing considering Honiara’s request for airport extension – Jeremiah Manele

Photo: 123RF China is considering a request to fund an extension of the Honiara International airport runway, Solomon Islands Prime Minister Jeremiah Manele says. Manele, who has just returned from China, revealed this on Thursday, saying the project was requested by the Solomon Islands government and Beijing is considering it. Manele said it would enable larger long-haul aircrafts to land at the Honiara International Airport and enhance Solomon Islands' trade with China. In-Depth Solomons reported that the airport's upgrade and modern terminal buildings have been largely funded by the Japanese government over the last 20 years. Manele said they had secured a number of trade deals with China during their state visit, the outlet reported. He said China was Solomon Islands largest trading ...
The Warehouse: Commissioner ‘would welcome any competition in the market’
Business

The Warehouse: Commissioner ‘would welcome any competition in the market’

A bid to take over The Warehouse Group could help rein in New Zealand's supermarket duopoly, the grocery commissioner says. The Warehouse has been approached by founder Sir Stephen Tindall and a private equity firm about a potential buyout that could position the company as a third player in the supermarket industry. Grocery Commissioner Pierre van Heerden says he's keeping a close eye on the proposal. "We are watching it with interest because we would welcome any competition in the market that increases competition at the moment." The grocery regime has been set up to ensure new players, or existing small players, can have a fair go at competition in the industry, van Heerden said. He said issues with suppliers would be dealt with quickly but the Commission needed to know where to look. G...
Biden sidesteps hard truths in rare primetime opportunity
World News

Biden sidesteps hard truths in rare primetime opportunity

By Anthony Zurcher, BBC News US President Joe Biden concludes his address to the nation from the Oval Office of the White House on July 24, 2024 in Washington, DC. Photo: POOL / Getty Images via AFP Analysis - This was Joe Biden's first chance to define how he will be judged by history. In a rare televised address from the Oval Office on Wednesday night (local time), he spoke of his accomplishments. He spoke of his humble roots. He sang the praises of the American people. He said the future of American democracy lies in their hands. What he didn't do, despite saying he would always level with Americans, was provide a direct explanation for the biggest question of the day. He didn't say why he has become the first incumbent president to abandon a re-election bid, just a few months bef...
Tesla’s bleak margins sink shares as Musk hypes everything but cars
Business

Tesla’s bleak margins sink shares as Musk hypes everything but cars

Investors say Elon Musk's company has worrying profit margins. Photo: SLAVEN VLASIC / AFP Tesla shares tumbled 12 percent on Wednesday local time, evaporating almost US$100 billion in stock market value after CEO Elon Musk's talk of humanoid robots and driverless taxis failed to comfort investors worried about the electric car maker's shrinking profit margins. Tesla posted its lowest quarterly profit margin in five years late on Tuesday local time, with earnings per share missing estimates for the fourth consecutive quarter. It was the biggest one-day percentage drop in Tesla's stock since 2020, and it left Tesla's market capitalization at just under US$700 billion, down from over US$1 trillion in 2021. Still the world's most valuable car maker, Tesla's valuation relies on investor expe...
What is life like at the Olympic Village? Athletes give us a sneak peek behind the scenes
World News

What is life like at the Olympic Village? Athletes give us a sneak peek behind the scenes

A number of young athletes have taken to TikTok to share their experiences behind the scenes at the Paris 2024 Olympics Photo: RNZ / Quin Tauetau A baguette making workshop, free arcade games and and reviews of the infamous cardboard beds - young athletes are letting us into life at the Olympic Village. The infamous cardboard beds Canoeist Sofia Reinoso showed what the twin size, 'anti-intimacy' beds are made of, lifting up her mattress to reveal a thin structure of cardboard blocks, before jumping on the bed repeatedly to zero bounce-back. The beds are said to support the body for a restful sleep and act as a deterrent for anything other than sleeping. The official Olympics TikTok boasted their comfort, saying the beds are made with adjustable firmness and size - but not everyone's fou...
Australian company to develop gold field in central Otago
Business

Australian company to develop gold field in central Otago

File image. Photo: Getty / Bloomberg Creative / Simon Marks Gold mining company Santana Minerals has brought some lustre to a dull New Zealand stock exchange with a positive debut. The Australian-listed gold miner has joined the NZX with a foreign exempt status as it looks to develop a gold field in central Otago. Santana opened trading at $1.34 a share, hit a high of $1.38 before settling back around $1.36 on modest volumes. The broader NZX was down more than 100 points, about 0.8 percent, after a recent strong rally. Chief executive Damian Spring said the debut was "positive" and was a good sign of future support from New Zealand investors. "Our existing shareholder base has been up to 40 percent on the ASX, so well supported already, but truly this allows New Zealanders to invest if ...
US President Joe Biden says it’s time to ‘pass the torch’ to Kamala Harris
World News

US President Joe Biden says it’s time to ‘pass the torch’ to Kamala Harris

US President Joe Biden has told Americans it is time to pass the torch to a new generation - but he has also pledged to push for reform of the Supreme Court. Speaking from the Oval Office in his first speech since announcing he would not stand for re-eelection, he said the time is now for fresh voices. He warned there is no place in America for political violence after the shooting of former president Donald Trump. And he pledged to keep working in the few months left of his presidency to advocate for changes to the Supreme Court, one of the key arms of American government. Biden gave no details but sources in Washington have said he is keen to set term limits for justices and set up ethics rules. The Court is currently conservative leaning with six of the nine Justices appointed by Republ...
Mortgage broker Squirrel’s ‘security incident’ exposes details of 600 investors
Business

Mortgage broker Squirrel’s ‘security incident’ exposes details of 600 investors

(file image) Photo: 123RF Mortgage broking and investment firm Squirrel has been the target of a "security incident" which has exposed the passport or driver's licence details of 600 peer-to-peer investors. Squirrel told clients an authorised user had gained access to a third-party system, that was used as part of its investor registration process. That had allowed the person to extract personal information - specifically passport or driver's licence details - for customers who had registered in the 30 days leading up to 21 July. Protecting yourself after a data breach: What you need to know Squirrel founder John Bolton said the system held customer's identification details for 30 days, because sometimes the details were not accurately captured and had to be collected again. "It holds ...
Watch live: President Joe Biden tells US it’s time to ‘pass the torch’ to Kamala Harris
World News

Watch live: President Joe Biden tells US it’s time to ‘pass the torch’ to Kamala Harris

By Bernd Debusmann Jr, BBC News, White House US President Joe Biden will tell Americans it's time to "pass the torch to a new generation" in a televised address from the White House explaining his historic decision to step aside as the Democratic candidate in this November's election. The Oval Office address marks his first public remarks since the 21 July announcement, which paved the way for Vice-President Kamala Harris to become the presumptive nominee. Biden will also say his decision to withdraw "is the best way to unite our nation" ahead of November's election. Biden is also expected to lay out his plans to "finish the job for the American people" before the end of his term in January next year. Harris, who earlier this week secured the support of a majority of Democratic delegates...
Rents falling for first time in nearly two years, data shows
Business

Rents falling for first time in nearly two years, data shows

The national median rental price is $645 a week. Photo: Unsplash / Tom Rumble Rental prices have fallen for the first time since 2022, figures from Trade Me show . Trade Me's latest Rental Price Index revealed a slight decrease in rents, with the national median dropping $5 month-on-month to $645 a week. Trade Me's property sales director Gavin Lloyd said it was the first monthly fall since September 2022. And he said rents may yet fall further. "We know that with the number of Kiwis leaving the country, there is less demand for rentals, particularly among young professionals. "As a result, we might see further drops in rental prices as we move further into the winter months, especially given that the latest inflation figures are falling faster than expected." However, rents in Northlan...